Rob Jones is a loan officer at Sun American Mortgage who is a seller and servicer of the government insured Reverse Mortgage or HECM (Home Equity Conversion Mortgage). Rob knows Reverse Mortgages backwards and forwards. Over twenty years ago, Sun American closed the first Reverse Mortgage in the Southwest and has helped thousands of seniors gain financial freedom through this unique program.
Reverse Mortgages apply the opposite principles of a traditional forward mortgage. A traditional mortgage gains equity in a home by making monthly payments, while a Reverse Mortgage turns equity into tax free income or usable cash. Payments on the money owed are not required as long as the home is being lived in.
Rob has specialized in the Reverse Mortgage program and over the years has seen his clients gain the freedom to buy cars, do home repairs and travel. Many simply feel more secure with a larger monthly income or a line of credit to draw upon, without the burden of a home equity loan that must be repaid. Some are just tired of penny pinching and want to improve their quality of life.
Now senior homeowners have a safe, secured means by which to achieve financial security, while retaining home ownership. The U.S. Department of Housing and Urban Development (HUD) guarantee seniors who use the Reverse Mortgage program will not pass debt onto their heirs. A Reverse Mortgage is the safest mortgage someone can get. There is no due date unless the senior passes away, sells the home or moves out permenatly.
